Author: Shooter1

Buying a car with outstanding finance

[Copy link]
24-11-2019 23:47:34 Mobile | Show all posts
It's hard enough buying a used car anyway so buying privately and dealing with outstanding finance seems too much.  I'd leave it unless it's something very special or rare.
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
 Author| 24-11-2019 23:47:35 Mobile | Show all posts
Cheers guys.

If I proceed, it will be on a weekday and I'll get all of the paperwork in advance so I can have a good read of it.

I'll also get the phone number for the Finance company and give them a ring in advance, to ensure their ligit.

Thanks
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
24-11-2019 23:47:36 Mobile | Show all posts
As well as legit, see if they have a team or someone who can facilitate the handover for you.
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
24-11-2019 23:47:37 Mobile | Show all posts
I wouldn't do it.

However I'd also want a copy of the sellers drivers license to prove they live at the exchange address as well as the V5 being registered there.

Any excuses as to why not, you're being scammed.
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
24-11-2019 23:47:37 Mobile | Show all posts
The V5 will be held by the finance company as they own the car until the finance is paid off.
Reply Support Not support

Use magic Report

24-11-2019 23:47:38 Mobile | Show all posts
I wouldn’t touch this with a barge pole. I just think there’s too much potential hassle, I wouldn’t risk it. Has potential scam written all over it.
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
24-11-2019 23:47:39 Mobile | Show all posts
The V5 is the registered keepers document, it says nothing about who owns it. Nissan own our car as it's on a PCP, we have the V5.  Even if the finance company "hold" it,  the seller could easily obtain a replacement from DVLC.
Reply Support Not support

Use magic Report

24-11-2019 23:47:40 Mobile | Show all posts
You came on here to ask advice and pretty much everybody has warned you off and given you a miriad of reasons why you should leave it alone.

And yet you're still considering it?

Sounds like you'd already decided what to do before you posted asking for advice.

If you go through with it and get stung I doubt you'll get much sympathy here.

It's not worth the risk just for a car.

As has been said, plenty more cars out there and if this one seems like a good deal not to be missed then that would make me even more wary.

Phoning the finance company is no guarantee they're 'legit', even if they come across as so.

Paperwork could be forged?

Scammers have pretty large scale operations and go to great lengths to come across as genuine.

All the signs are there...

You've been advised by many here about how this could be a scam.

You may not be dopey but you're certainly being extremely naive. Maybe they're the same thing? You've already professed your nervousness.

Sounds to me like you're a scammers wet dream come true.

Harsh I know but it is how you're coming across to me anyway.
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
24-11-2019 23:47:41 Mobile | Show all posts
I thought you were doing the deal this Sunday?
Reply Support Not support

Use magic Report

11610K

Threads

12810K

Posts

37310K

Credits

Administrators

Rank: 9Rank: 9Rank: 9

Credits
3732793
24-11-2019 23:47:42 Mobile | Show all posts
Sorry that's wrong.
Reply Support Not support

Use magic Report

You have to log in before you can reply Login | register

Points Rules

返回顶部